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European Shares Rise For Third Day On Trade Talk Hopes


European stocks were trading higher for the third day running on Wednesday amid optimism the U.S. and China might be able to resolve their long-running trade dispute before the March 1 deadline.

Meanwhile, U.S. President Donald Trump expressed displeasure with a deal by congressional negotiators on border security spending but played down the chances of another government shutdown.

Elsewhere, investors shrugged off political uncertainty in Spain, with media reports suggesting the socialist government would call a snap general election after its expected defeat in the budget vote.

The pan European Stoxx 600 was up 0.3 percent at 363.76 in opening deals after rising half a percent in the previous session.

The German DAX was marginally higher, France's CAC 40 index was moving up 0.2 percent and the U.K.'s FTSE 100 was rising half a percent.

Dutch bank ABN Amro slumped 7 percent after its fourth-quarter profit missed estimates.

Brewing company Heineken NV jumped 5.2 percent and paint maker Akzo Nobel NV advanced 4.9 percent on better-than-expected earnings.

Swiss specialty chemicals company Clariant lost almost 4 percent after reporting a fall in fourth-quarter sales and operating profit.

Copper producer Aurubis rose over 2 percent in Frankfurt after confirming its full-year forecast.

French asset manager Amundi soared 4.5 percent after confirming its profit targets for 2020.

Housebuilders led the surge in London on hopes that the U.K.'s exit from the European Union could be delayed, if a EU divorce deal agreeable by all parties is not reached by March 29.

Barratt Developments rose 1 percent, Persimmon advanced 1.7 percent and Taylor Wimpey added 1.4 percent.

Construction company Galliford Try soared 6.3 percent after it posted a record half-year profit.

British packaging company Smurfit Kappa rallied 3 percent. The company posted strong full-year results and said it plans to hike its shareholder dividend by 12 percent.

In economic releases, Eurozone industrial output slid for the second month in a row in December, underlining the trend of slowing economic growth.

Industrial output in the 19-country currency union shrank by 0.9 percent in December from the previous month. On an annual basis, output fell 4.2 percent.

The British pound retreated from its early highs after a government report showed the U.K. inflation rate fell to 1.8 percent in January, the lowest in two years.

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